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Heavy-Duty Connector Market to 2027 - Global Analysis and Forecasts by Component ; Material ; Termination Method ; Application

Heavy-Duty Connector Market to 2027 - Global Analysis and Forecasts by Component ; Material ; Termination Method ; Application

  • March 2020
  • 203 pages
  • ID: 5882119
  • Format: PDF
  • The Insight Partners

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The global heavy-duty connector market was valued at US$ 1,477.5 million in 2019 and is projected to reach US$ 2,411.1 million by 2027; it is expected to grow growing at a CAGR of 6.4% during 2020–2027. The heavy-duty connector market outlook is positive owing to factors such as growing demand for boosting industrial production through optimal efficiencies of industrial machinery and integration of automated industrial solutions. Thus, the installation of heavy-duty machinery has gained substantial traction globally, especially in the past few years. The fast-growing end-user industries across several emerging economies such as Brazil, Russia, India, China, South Africa, Indonesia, Turkey, and Malaysia, is providing expansion opportunities for various companies in the heavy-duty connector market. The increasing developments in market multinational enterprises (MNEs) have changed the pattern of foreign direct investment in past years. China and India, together, contribute almost two-third of the global GDP growth. As per the Organization for Economic Co-operation and Development (OECD), APAC continues to record positive average GDP growth rate, which was 6.6% in 2018 and 6.3% in 2019.

The increasing use of heavy machinery in various industries is enabling manufacturers to invest in innovative components with advanced technologies, which facilitates efficient functioning.The SMEs are opting modern heavy-duty connectors, owing to the fact that the heavy-duty connectors are the most critical and efficient component of heavy-duty machineries.

Considering this fact, various heavy-duty connector manufacturers and their associations predict a rise in the adoption of these connectors in the coming years.Moreover, these connectors are proved to be a better option for secure, time-saving, and simple assembly for machinery and facilities.

This rapid adoption is propelling the demand for heavy-duty connector across the industrial automation and driving the growth of the heavy-duty connector market. The rising awareness towards workplace safety as well as the integration of stringent safety standards from regulatory and government bodies has led to the deployment of heavy-duty connectors across various industry verticals. . Subsequently, this is expected to facilitate the adoption of heavy-duty connectors across the small & medium enterprise owners and drive the growth of heavy-duty connector market during the coming years.

Automation is gaining pace among wide range of industries across the world to enhance the functionality of equipment such as industrial robots; industries in developing countries, including China, Japan, and the South Korea are implementing various automation solutions.Also, the increased focus on research and development has led to develop high automated equipment and machinery in various industries such as manufacturing and oil & gas.

Thus, with the rising trend of modernization and transformation among various industries, the demand for heavy-duty connectors is expected to grow, which in turn will increase the growth of heavy-duty connector market.The players in the heavy-duty connector market offer a wide range of heavy-duty connector-based product that have an extensive scope of application across the heavy-duty industry.

The global heavy-duty connector market is broadly segmented into material, component, application, termination method, and geography.Based on material, the global heavy-duty connector market is bifurcated into metals and plastics.

Based on component, the global market is divided into hoods & housing, insert & contact, and accessories. Based on application, the market is broadly segmented into manufacturing, power, rail, oil & gas, construction, and others. Additionally, by the termination method, the market is segmented into crimp, screw, and others.

The overall heavy-duty connector market size has been derived using both primary and secondary sources.The research process begins with extensive secondary research using internal and external sources to obtain qualitative and quantitative information related to the heavy-duty connector market.

It also provides the overview and forecast for the global heavy-duty connector market based on all the segmentations provided concerning five primary regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America.Also, primary interviews were conducted with industry participants and commentators to validate and analyze the data.

The participants who take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specialized in heavy-duty connectors.

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